Business
What does the future hold for Treasury Wine (ASX:TWE) after China’s tariffs?
The proposal by Treasury Wine Estates Ltd (ASX: TWE) to spin off its Penfolds business was put on hold recently to allow the company to focus on responding to China’s trade tariffs and the ongoing anti-dumping probe by China into imports of Australian wine.
As tensions between Australia and China escalated, Treasury Wines responded to the tariffs at the end of November. The Treasury Wine share price then tumbled to a near 5-year low, trading at $8.40 as of 1 December.
Response to trade tariffs
Treasury Wine’s response plan included the following key items:
- reallocation of Penfolds Bin and Icon range from China – which represent 25% of the company’s annual global Penfolds allocation volumes – to other key luxury growth…
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